If you have ever study the classic book, Acres of Diamonds, you know that most people have far more enjoy, far more funds and more of anything they want well within their existing attain.
If you haven’t read it, I’ll give you a swift overview of the book in the starting of this write-up. In my opinion, it really is a “ought to study” for just about anybody.
In Acres of Diamonds, Russell Conwell writes about Ali Hafed. Ali was a farmer who owned acres of farmland. Like most human beings, Ali desperately wanted to be wealthy.
One particular day, his Priest told him that if he could just discover 1 diamond, the size of his thumb, that he could invest in the entire country and reside the rest of his life as an very wealthy man.
So, like lots of people do, Ali sold the family farm and went searching for diamonds. He searched all over the planet, eventually going completely broke and ending his life by suicide in the ocean.
Shortly following Ali’s sad departure, the gentleman that bought his farm was providing his horse a drink from the river that ran by means of the home. As he was standing on the river bank watching his horse drink, he noticed a sparkle in the water. As he looked closer, he discovered a gorgeous stone that glistened in the sun. He picked it up, and thought nothing at all of it until the Priest stopped by and pointed out that it was indeed – you got it – a diamond!
As the story goes on, we uncover that the complete farm sat on acres and acres of diamonds and became a single of the world’s biggest diamond mines.
Poor Ali had acres of diamonds proper beneath his nose the complete time and – as an alternative of leveraging what he already had – he left it behind for a miserable life and death.
The moral of the story is pretty uncomplicated to see, and I’m positive you know it by now
I believe that we all have our own figurative acres of diamonds.
And, this is exactly where it gets good for you
You have your personal asset, just like Ali, and I want to support you harvest it in this post.
You happen to have the trust and respect of people today who are in a really important stage of their life. As you most likely know, there are specific life events that surround the need for property upgrades such as granite countertops. And, it is vital that you know what they are. I will tell you what they are in a moment – and even inform you how to capitalize on them, but prior to I do, I want to make a point.
I talk to stone fabricators like Ali just about every day. Regardless of their size or profitability, they all want additional organization.
But, like Ali, they are all seeking for a resolution outdoors of their existing asset. While there’s absolutely nothing in specific incorrect with this pondering, I advise them to appear inside their existing asset for profit possibilities just before they invest in far more item offerings, a bigger yellow page ad, or whatever they are thinking of carrying out.
Now, spend attention, I’m about to tell you a thing so very simple and important that you could possibly pass it up simply because of its simplicity.
Gators Granite pondering in the countertop business tells us that home owners have a lifetime value that is made up of a specific quantity of total upgrades, future job requests, and referrals. I hear numbers all over the board.
To calculate your typical buyer value, you have to first obtain out your typical income per job. Simply take your gross revenue over the last 12 months and divide it by the total number of jobs completed.
Next, find out how considerably a customer referral is worth. For example, if you typical one referral for every single 3 home owners divide your average income per job by 3. You can then add this to your average income per job you just calculated. You have now determined your typical lifetime consumer worth.
Got that? Okay, let’s move on.
Now that you have that, let’s use an example figure so we can continue. Let’s say your average consumer worth is $7,000.
You CAN enhance that number without having raising prices, devoid of adding yet another consumer, or without having selling them flooring or cabinets. This is just a single of your personal “acres of diamonds” that you have within your countertop business.
Now, remember earlier in this report when I mentioned that men and women who have to have new countertops generally are going through a particular life event? Knowing these events is so crucial, but handful of people today in fact take the time to think about them. The most frequent big life events are:
Moving. Either somebody intends on promoting their household or has just moved into a new residence.
New Job & Inheritance. Men and women who have come into more funds or earnings.
Empty Nest. Now that the little ones are gone there is much more cash for house improvements and/or the age of the residence calls for it.
Marriage. New countertops to better get pleasure from their property with each other.
There are a couple of additional, but these are the important events I’d like to concentrate on in this article. “Okay, now what?” you say
Well, recall when I told you that you can boost the lifetime value of every consumer? And, bear in mind when I told you that the trust and respect from your customers is particularly precious? This is exactly where it all comes collectively.
By forming joint ventures with respectable local enterprises that can fill a need that folks in these important life events are seeking for, you can improve the worth of several of your shoppers by 25%, 50%, 200% or more!
Here’s how
Just like you, nearby enterprises are attempting each and every day to develop their sales revenue. So, like you once again, they advertise. This all functions out so that they have a buyer acquisition cost. Some will pay a few bucks for new consumer, but other people will pay quite a few hundred or even far more than $1,000 to acquire a new customer.
Now, what if you leveraged your trust and buyer relationships and gave them a qualified customer? Do you feel the small business would pay you a commission for that buyer? You bet they will! If you happen to be paying $one hundred for a new consumer by way of your marketing efforts, would you be wiling to spend $80 for a new buyer if somebody brought it to you? Of course you would.
If a regional company is paying $250 for a new customer, they’d really like you to bring them new customers at $200. They save $50 and are dealing with a excellent consumer. In that scenario, you just improved your lifetime worth by $200.
Do that a handful of occasions and you have just struck diamonds!
Form alliances with local corporations like: movers, realtors, estate planners, carpet cleaners, and so on. Assume of corporations that can assist folks in the important life events we talked about and the list of corporations will be easy to kind.
For example, men and women who want to put their house up for sale need to have a realtor, moving organization, possibly a handyman service to make their home presentable and rather a bit of moving supplies. A couple who just got married likely want to talk to a good interior decorator, life insurance coverage salesperson, economic planner the list is endless.
Meet with the selection maker of these local companies to perform out a fair commission and tracking technique that both of you are comfortable with. Do this multiple times, until you have a nice slate of joint venture partners. Then generate good advertising supplies to present to your consumers that outline the positive aspects of making use of your joint venture partners.
Prior to extended, you will be having commission checks in the mail and your customer value will go through the roof. That, my buddy, is 1 huge acre of diamonds within your current business enterprise!